EXHIBIT 10(iii)(q)
                                                       Page 1 of 3


               SELECTED EXECUTIVE OFFICER EMPLOYMENT AGREEMENT

               Mr. N. J. Pishotti
               8674 Twighlight Tear Lane
               Cincinnati, Ohio  45249

               Dear Nick:

               On the basis of our discussions and your recent interviews
               with members of our management team, I am pleased to extend
               this written confirmation of our offer to become Vice
               President of Ingersoll-Rand Company, reporting to me as
               Chairman and Chief Executive Officer.  Your initial
               assignment will be the advancement of our strategic sourcing
               capabilities, providing leadership and direction to help
               position Ingersoll-Rand achieve cost and inventory
               reductions, and improved corporate performance.

               The following confirms the terms and conditions of our
               offer:

               1.   Your starting base salary will be at an annual rate of
                    $225,000, paid monthly.

               2.   Your annual bonus for the award year 1995 will be
                    guaranteed at a minimum of 50% of base salary. 
                    Otherwise, in subsequent years, you will be eligible
                    for awards of up to 90% of salary depending on both
                    corporate and individual performance.

               3.   Upon joining the Company, you will receive an award of
                    non-qualified stock options of 18,000 shares with Stock
                    Appreciation Rights under our 1990 Incentive Stock
                    Plan.  This award is subject to the usual terms and
                    conditions of awards under the Plan.  You will be
                    considered a full participant, and be eligible to
                    receive further awards under the Plan in future years
                    as administered by the Compensation Committee of the
                    Board.

               4.   Ingersoll-Rand will provide you with a Stock Award of   
                    10,000 shares, also administered under the terms of our
                    1990 Incentive Stock Plan.




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                                                       EXHIBIT 10(iii)(q)
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                    These awards vest in three annual installments,
                    beginning in January, 1996, based on a predetermined
                    performance target and continued employment.  You will
                    receive an award agreement which explains vesting
                    requirements and other terms and conditions of your
                    award.  Our stock awards also provide participants with
                    dividend equivalents, and represent an attractive
                    additional equity interest in our company.

               5.   You will receive a benefit under the Executive
                    Supplementary Retirement Agreement in an amount of
                    $45,000 per year for ten years beginning at age 65,
                    subject to the provisions of this plan.

                    You will be eligible for a full pension based on 65% of
                    your final eligible compensation at age 62.  If you
                    retire prior to age 62, your retirement would be
                    subject to the terms and conditions of the company's
                    qualified retirement plan.

                    For purposes of retirement benefits, eligible
                    compensation is your final salary, plus the final five-
                    year average of annual bonuses received.  Your full 65%
                    benefit will be calculated from all sources including
                    our qualified and non-qualified Pension Plan and
                    Retirement Accounts, the employer portion of Ingersoll-
                    Rand's and your former employer's 401(k) Plan
                    contributions, and your former employer's retirement
                    benefits.

                    These special additional benefits will necessarily be
                    provided outside the Corporate Retirement Plan of
                    Ingersoll-Rand, and for the most part will be paid from
                    the general funds of the company.  For purposes of
                    benefit service, we will consider that you have accrued
                    a benefit of thirty percentage points of final
                    compensation upon joining us, and will accrue seven
                    percentage points per year of credited service, up to a
                    maximum of 65%.

               6.   We will relocate you, your family and household goods
                    to this area, and will pay you a $100,000 special
                    allowance upon your relocation to cover differences in
                    housing costs, mortgage interest and any other
                    disadvantages.  Your relocation expenses, including
                    shipment of household goods, real estate commissions and
                    mortgage points will be reimbursed according to our



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                                                       EXHIBIT 10(iii)(q)
                                                       Page 3 of 3


                    policy; however, your special allowance will not be
                    subject to tax protection.  Ingersoll-Rand's relocation
                    policy also provides for equity advances, at company
                    discretion, to facilitate home purchases prior to sale of
                    your existing residence.  And, our program also includes
                    the possibility of home purchase should that be necessary
                    to effect a smooth transition.

               7.   Your medical and life insurance coverage with
                    Ingersoll-Rand will commence on the first day of the
                    month following 30 days of employment.  You should
                    continue your current coverage with your former
                    employer under COBRA to avoid any gap in your coverage.

               8.   In the unlikely event that you are involuntarily
                    terminated by the company other than for cause (i.e.,
                    violation of law or serious breach of ethics), we will
                    provide you with a severance payment equal to 3 years
                    of salary plus your last annual bonus.  In anticipation
                    of your retirement, your severance payment will decline
                    by one-third for each year of service beginning after
                    age 59.

               9.   Our offer is conditioned upon satisfactorily completing
                    a physical examination, which includes drug testing,
                    and fulfilling the requirements of the Immigration
                    Reform and Control Act of 1986.

               We at Ingersoll-Rand have given this offer careful
               consideration and we view it as an exciting opportunity for
               you in your career progression.  We are confident that you
               have the capabilities to succeed with our company, and that
               we will enjoy an important and mutually rewarding long-term
               relationship.  I hope you find our offer acceptable and will
               join us preferably on or before April 3, 1995.

               Assuming the foregoing is acceptable to you, please sign and
               return a copy of this letter to me by March 10, 1995.

                                             Sincerely,

               Accepted:                     /S/ James E. Perrella
               /S/ N. J. Pishotti            James E. Perrella
                                             Chairman
                                             March 2, 1995



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